Back to the future: Data removes the risk
Finding a trading system which yields a consistent profit is a key aim of any gambler.
Being able to eliminate as much risk as possible when it comes to investing your money will go a long way towards turning over a profit.
But hitting on the system which works best for you could take years of experimenting and leave a burning hole in your wallet.
One way to remove a large chunk of that risk, and keep a large chunk of money in your wallet or betting account, is to replay past exchange markets.
This gives you the opportunity to try out a variety of trading systems and betting strategies, without initially taking any risks at all.
There are several apps on the market which allow you to use historical data from the exchange going back a few years on a wide range of sports.
You can then use this data to experiment with different systems before you lock on to the right formula to maximise your profit when it comes to betting for real.
For instance, if you fancy a particular horse in a race, you can examine your selection’s past performance on the exchange.
So you would be able to see how much money has been matched on that horse, how its price fluctuated in the lead-up to the race and whether it would be worthwhile backing the horse before possibly laying it to guarantee a profit.
It would clearly be a time-consuming process to look at the screen for several hours to see how a previous market has behaved in the lead-up to an event starting. But creating a trading system that offers the best chance of returning a profit is a task that does require dedication and patience.
However, you can speed up the replaying of the past markets to a set time. You can also pause them and take them back to go over again how a market behaved.
If you’ve spent the time going over the data as well, it will also put you in a stronger position to predict how the market will act and react in similar events in the future.
Using the historical data and analysing how a market has behaved is also a good way to get into betting on a sport you’ve never previously gambled on. Perhaps you’ve heard certain sports offer good profit returns, but you’re uncertain how the market works.
Analysing the data of past betting exchange markets on that sport gives you the chance to learn how it behaves and enables you to remove more risk.
The apps also give you the chance to place virtual bets once you’re ready to try out a system which you’ve created. You can then combine this with triggered betting before sitting back and watching it all unfold.
Once you’ve completed enough ‘dry runs’ using the historical data, it’s time to put your system to the test knowing you’ve done all you can to remove the risk of a losing bet.